(b) Following are the details of material of Raman Traders:ParticularsUnits and Cost per unit200 units @ Rs 55 per unit50 units @ Rs 60 per unitDate1.1.2020Opening Stock1.1.2020Purchases150 units @ Rs 64 per unit100 units @ Rs 70 per unit15.1.2020Sales1.2.2020Purchases10.2.2020Purchase Return (Dated 1.2.2020)20 unitsSales100 units @ 75 per unit50 units @ 74 per unit200 units @ 80 per unit15.2.202020.2.2020Sales20.2.2020Purchases21.2.2020Loss by fire50 unitsFind out the cost of closing stock as on 31.03.2020 weighted average cost method usingperpetual inventory system. Also calculate the cost of goods sold and gross profit.

Weighted average cost method says that weighted average cost will be calculated by dividing total…

(b) Following are the details of material of Raman Traders: Date Particulars Units and Cost per unit 1.1.2020 Opening Stock 200 units @ Rs 55 per unit 50 units @ Rs 60 per unit 150 units @ Rs 64 per unit 100 units @ Rs 70 per unit 1.1.2020 Purchases 15.1.2020 Sales 1.2.2020 Purchases 10.2.2020 Purchase Return (Dated 1.2.2020) 20 units 100 units @ 75 per unit 50 units @ 74 per unit 200 units @ 80 per unit 15.2.2020 Sales 20.2.2020 Sales 20.2.2020 Purchases 21.2.2020 Loss by fire 50 units Find out the cost of closing stock as on 31.03.2020 weighted average cost method using perpetual inventory system. Also calculate the cost of goods sold and gross profit.

(b) Following are the details of material of Raman Traders: Date Particulars Units and Cost per unit 1.1.2020 Opening Stock 200 units @ Rs 55 per unit 50 units @ Rs 60 per unit 150 units @ Rs 64 per unit 100 units @ Rs 70 per unit 1.1.2020 Purchases 15.1.2020 Sales 1.2.2020 Purchases 10.2.2020 Purchase Return (Dated 1.2.2020) 20 units 100 units @ 75 per unit 50 units @ 74 per unit 200 units @ 80 per unit 15.2.2020 Sales 20.2.2020 Sales 20.2.2020 Purchases 21.2.2020 Loss by fire 50 units Find out the cost of closing stock as on 31.03.2020 weighted average cost method using perpetual inventory system. Also calculate the cost of goods sold and gross profit.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4CE

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7. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December…
7. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December…
The following information is taken from Tanaka Bhd for the year ended 31 December2020. Preference dividend declared and fully paid in 2020: RM100,000Ordinary dividend declared and fully paid in 2020: RM3,960,000Preference share marketable price per unit at 31 December 2020: RM4.60Ordinary share marketable price per unit at 31 December 2020: RM9.00 Required:a. Calculate the following ratio for 2020: Industry average ratioi. Current ratio 2.3 : 1ii. Quick ratio 1.1 : 1iii. Asset turnover 2.0
Hello! look at the attached images and answer: (a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above. i. Return on year-end capital employed ii. Net asset turnover iii. Gross profit margin iv. Net profit margin v. Current ratio vi. Closing inventory holding period vii. Trade receivables’ collection period viii. Trade payables’ payment period ix. Dividend yield x. Dividend cover (b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020. (c) Explain the uses and the general limitations of ratio analysis. Thanks a lot!
The following information is taken from Tanaka Bhd for the year ended 31 December2020.Preference dividend declared and fully paid in 2020: RM100,000Ordinary dividend declared and fully paid in 2020: RM3,960,000Preference share marketable price per unit at 31 December 2020: RM4.60Ordinary share marketable price per unit at 31 December 2020: RM9.00 Required:a. Calculate the following ratio for 2020: Industry average ratio iv. Profit margin 4.0%v. Earnings per share RM0.46vi. Rate of return on total assets 11.0%Assumption: all sales in credit; finance expense means interest; ordinary share outstandingthroughout both years = 10,000,000 shares.
The following information is taken from Tanaka Bhd for the year ended 31 December2020.Preference dividend declared and fully paid in 2020: RM100,000Ordinary dividend declared and fully paid in 2020: RM3,960,000Preference share marketable price per unit at 31 December 2020: RM4.60Ordinary share marketable price per unit at 31 December 2020: RM9.00 Required:a. Calculate the following ratio for 2020: Industry average ratioi. Current ratio 2.3 : 1ii. Quick ratio 1.1 : 1iii. Asset turnover 2.0Assumption: all sales in credit; finance expense means interest; ordinary share outstandingthroughout both years = 10,000,000 shares.
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B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.
47. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31…
Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: Type here to search (in thousands) Allowance for doubtful accounts Credit sales $ Cost of goods sold 30 55 671 624 41 $ 1,421 882 $ 2021 $ 50 4.175 2.909 91 60 582 $ 1,311 $ 826 526 52 $ 2020 3.901 2,645 $ 60 40 498 581 $ 29 $ 1.208 756 2019 40 3.733 2.364
Required:a. Calculate the following ratios for Sweets plc for 2021 and 2020, showing the formulas and workings:4- Net profit margin5- Asset turnover6- Stock holding days7- Debtors collection period8- Current ratio9- Gearing ratio10- Interest cover
Hello! look at the attached images and answee the following points: (a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above. Return on year-end capital employed Net asset turnover Gross profit margin Net profit margin Current ratio Closing inventory holding period Trade receivables’ collection period viii. Trade payables’ payment period Dividend yield Dividend cover (b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020. (c) Explain the uses and the general limitations of ratio analysis. Thank you a lot!